EFRAG has joined the PCAF Engagement Group for Central Banks and Financial Regulators to support greater alignment between European sustainability reporting standards and greenhouse gas accounting methodologies.
Objectives of the PCAF Engagement Group
The PCAF Engagement Group operates as a dedicated forum designed to foster structured, ongoing dialogue, knowledge sharing, and collaboration between the Partnership for Carbon Accounting Financials, central banks, financial regulators, and standard-setting bodies.
The overarching aim of the group is to reinforce alignment and assist with the consistent implementation of accounting methodologies for greenhouse gas emissions connected to financial activities.
EFRAG's Position and Role in Reporting
EFRAG acts as Europe's technical adviser to the European Commission regarding sustainability reporting, contributing directly to the development of the European Sustainability Reporting Standards and advocating for high-quality disclosures.
Through its membership in the PCAF Engagement Group, EFRAG intends to support transparent, consistent, and comparable climate-related disclosures while strengthening the connections between reporting frameworks and greenhouse gas accounting practices.
Leadership Comments on Collaboration
Chiara Del Prete, Chair of the EFRAG Sustainability Reporting Technical Expert Group, noted that structured collaboration between standard setters, regulators, and market participants is necessary to promote decision-useful climate information and build stronger ties between reporting frameworks and accounting methodologies.
Angelica Afanador, Executive Director of PCAF, highlighted EFRAG's role in shaping sustainability reporting standards, stating that its participation will help advance a shared understanding of measuring financed emissions and foster alignment across the sustainable finance ecosystem.
Frequently Asked Questions
What is the purpose of the PCAF Engagement Group?
The PCAF Engagement Group brings together PCAF, central banks, financial regulators, and standard setters to share knowledge and facilitate consistent implementation of greenhouse gas accounting methodologies for financial activities.
What is EFRAG's role in sustainability reporting?
EFRAG serves as Europe's technical adviser to the European Commission on sustainability reporting and develops the European Sustainability Reporting Standards.
